Crop Insurance

New Jersey

Background Information

Total Costs

Indemnities

Administrative and Operating Expense Reimbursements

Premium Subsidy

Farmer Premiums

Indemnities Paid to Farmers by the Crop Insurance Program in New Jersey

Indemnities

YearIndemnitiesPolicies
1995$926,0051,292
1996$193,5251,014
1997$630,318827
1998$667,155703
1999$3,390,313853
2000$981,1281,328
2001$790,6491,424
2002$3,751,6611,464
2003$1,636,1661,476
2004$1,205,7561,510
2005$1,516,4291,521
2006$715,3071,458
2007$2,154,8741,418
2008$4,206,5551,406
2009$1,193,1041,656
2010$5,097,2641,584
2011$3,149,4131,630
2012$3,482,6411,591
2013$4,250,7711,564
2014$2,543,3131,539
2015$4,567,1441,559
2016$4,281,2641,517
2017$1,239,3481,486
2018$9,736,5491,467
1995-2018$68,467,72834,724

METHODOLOGY: EWG obtained county level crop insurance information from USDA Risk Management Agency which shows premium subsidies, indemnities and farmer premiums at the county/crop level by crop year. Administrative and Operating Expense Reimbursements to crop insurance companies (A+O), Other program fund costs, Other administrative and operating fund costs expenses, and Government earned interest were allocated to the crop/county level by using the national expenditures/revenue of the Crop Insurance program (available here for 2008-2017 and from RMA previous to 2008) in each category and attributing them the crop/county level by total premiums. EWG was unable to attribute underwriting gains to the county/crop level. Underwriting gains (or losses) are paid to insurance companies when the insurance companies collect more in total subsidies than are paid out in indemnities. Since underwriting gains are paid by company on the basis of all of their policies, EWG was unable to allocate underwriting gains by crop or by region. The total underwriting gains for 1995-2018 is $14.6 billion.

 

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